Marchex Announces Accuracy Enhancements to Best-in-Class Conversation Analytics
October 24 2017 - 9:00AM
Business Wire
Industry innovator improves components of
speech analytics accuracy by nearly 15% comparatively, providing
marketers and sales teams with actionable insights from phone
conversations between consumers and brands
Marchex (NASDAQ: MCHX), a leading provider of call analytics
that drive, measure, and convert callers into customers, today
announced new enhancements to its industry leading Marchex Speech
Analytics solution, including updates to their Call DNA® user
interface, which now accepts user input on Artificial Intelligence
(AI) predicted outcomes. The direct in-app feedback from customers
will allow Marchex to continually improve the overall accuracy of
their speech recognition technology.
For industries with a significant reliance on phone calls from
consumers to drive appointments and sales, such as automotive
manufacturers, AI-powered conversation technology offers a better
understanding of the customer experience and the most accurate view
into exactly what happens during every call, at scale.
“When General Motors rolled out Marchex Speech Analytics, we
were amazed at the insights it provided,” said Jim Bechtell, vice
president and general manager at Somerset Buick GMC Inc. “We are
using this product every day to better understand our sales agent
behaviors and to improve our customers’ buying experience.”
Today’s announcement comes on the heels of a significant
enhancement to the Marchex Speech Analytics dataset, which has
improved accuracy of transcription by reducing the Word Error Rate
(WER) by 15 percent. The increased accuracy of conversational
speech recognition enables marketers and sales teams to gain deeper
insights from inbound phone calls, which can then be used to
optimize media spend and sales operations.
As the only call analytics company to have built its own
conversation analytics platform, Marchex’s Speech Analytics
technology was found to be more reliable in various areas of
application than IBM’s Watson, according to a recent comparison in
Gigaom. While traditional call analytics solutions typically rely
on training-data in isolated data sets, Marchex conversation
analytics platform leverages the company’s state of the art,
patent-pending speech recognition and Call DNA® technology to
aggregate and analyze tens of millions of utterances from millions
of unique phone calls for optimal language model training.
“The English vocabulary consists of more than 125,000 words,
which can be put together in trillions of ways,” said Jason Flaks,
Senior Director of Product & Engineering at Marchex.
“Accounting for all of those possibilities is difficult, but
critical for brands looking to understand what happens on their
calls with consumers. Today’s enhancements help improve the
accuracy of our product that already leads the industry.”
Marchex released their purpose-built Speech Analytics technology
and tools earlier this year and immediately received industry
recognition for accuracy. The product was reviewed against others
and found to have the highest accuracy rate when identifying
voice-patterns during customer interactions with brands.
As a recent industry study indicates, customers who call a
business are more valuable prospects for that business than those
who don’t. The report found that phone customers convert faster,
spend more, and have a higher retention rate than customers who
contact brands via other channels such as in-store or online. This
further highlights the need for businesses to leverage conversation
analytics technology to better understand what is happening during
a customer’s journey, so they can convert more callers into
customers. To demo Speech Analytics, contact Marchex.
About Marchex
Marchex understands the best customers are those who call your
company - they convert faster, buy more, and churn less. Marchex
provides solutions that help companies drive more calls, understand
what happens on those calls, and convert more of those callers into
customers. Our actionable intelligence strengthens the connection
between companies and their customers, bridging the physical and
digital world, to help brands maximize their marketing investments
and operating efficiencies to acquire the best customers.
Please visit https://www.marchex.com/blog,
https://www.marchex.com/blog or @marchex on Twitter
(Twitter.com/Marchex), where Marchex discloses material information
from time to time about the company, its financial information, and
its business.
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Marchex, Inc.Investor RelationsTrevor Caldwell,
206-331-3600ir@marchex.comorMedia Inquiries:March
Communications617-960-8896Marchex@marchcomms.com
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